DRDGOLD (NYSE:DRD) Shares Gap Up – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.30, but opened at $9.77. DRDGOLD shares last traded at $9.69, with a volume of 49,648 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on DRD. HC Wainwright reaffirmed a “buy” rating and issued a $13.25 price objective on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

DRDGOLD Price Performance

The company has a 50-day moving average price of $9.26 and a 200-day moving average price of $9.64.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DRD. GAMMA Investing LLC lifted its position in DRDGOLD by 53.0% during the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after buying an additional 1,122 shares in the last quarter. JPMorgan Chase & Co. raised its position in DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after purchasing an additional 9,765 shares during the last quarter. Virtu Financial LLC acquired a new position in DRDGOLD during the 3rd quarter worth $119,000. Public Employees Retirement System of Ohio bought a new stake in shares of DRDGOLD during the third quarter worth $431,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in DRDGOLD by 12.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after purchasing an additional 48,442 shares during the period. 14.70% of the stock is currently owned by institutional investors and hedge funds.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.